Something important didn’t happen after President Trump said he planned to double import taxes on steel and aluminum on May 30: Markets didn’t tank. Traders took it in stride and a modest rally in stocks continued for the next several days. Markets may finally be finding solid footing as the halfway point of Trump’s first year in office nears. Stocks have recovered nearly all of the losses incurred as Trump rolled out wide-ranging tariffs in March and April that were far more severe than most investors expected. In early April, the S&P 500 index was down 16% for the year. It’s now up 2% for the year. Another gain of ... (full story)